Islamic Finance is an important segment of the global financial services market, with exposure across almost 75% of the globe, as highlighted by the IMF. In correlation to the global footprint of Islamic Finance, the segment has an equally important fiscal impact with over 400 banks and 150 Takaful providers offering solutions, equally over $100 billion Sukuk’s are issued per annum. Whilst Islamic finance has emerged as an effective tool for financing development worldwide, including in non-Muslim countries, the industry does need to be mindful of key thematic issues and challenges which it faces. Islamic Finance specialist, Samer Hijazi, shares a small selection of his insights in respect of the key trends and themes which the industry is being impacted by. The short excerpts cover the following themes:
• Islamic finance & oil prices: where to now?
• Islamic and Christian finance: A shared heritage
• Comparing Sharia’a governance frameworks